3 Wealth Building Activities to Shift Your Mindset
/According to singer Andy Wiliams…
“It’s the most wonderful time of the year
With the kids jingle belling
And everyone telling you be of good cheer
It's the most wonderful time of the year”
Are you playing the tune in your head yet? It’s the 2nd week in December, and I’m sure you are trying to make the most from the last few weeks of the year, especially as it relates to your wealthy building activities. I know it’s been hard to be in good cheer, especially since many people would prefer to skip right to 2021.
Well, hopefully you will not skip to 2021 just yet! You might be asking yourself how can enjoy the remaining days of the year and make it wonderful, amidst the continuing craze of COVID-19, settling into the reality that some of your loved ones are no longer here, trying to finish your priorities at home and work, or hitting some wealthy building goals you set in the beginning of the year?
Here’s three wealth building activities to enjoy 2020 before it becomes only a memory:
Take action where you need to take action. Over the last few weeks, I’ve wanted to make some changes in my personal brokerage account. I sold the remaining amount of shares GoPro (TICKER: GPRO) that I’ve held for years. The stock has performed badly, and I wanted to take some losses so that I could use the proceeds to buy a stock where I saw so much more opportunity. Do you need or want to take any losses? Talk to your accountant or financial advisor about what strategy makes sense for you. I bought Grosvenor (TICKER: GCMG), which recently had its IPO. I’m excited by the wealth management company that’s headquartered in Chicago as I think the stock is undervalued.
I’ve also been intrigued by DoorDash (TICKER: DASH), which also made its public debut last week. But this stock seems a little overvalued for me. That said, I will be watching it closely. As a reminder, I am a big fan of ETFs for long-term tangible wealth building, but I do dabble in individual stocks for short-to-medium term opportunities.
2. Find the right channel for giving your time, talents, or take-home pay. It’s amazing how good you feel when you give to others. I know it can feel counterintuitive, but giving to others makes us sometimes feel better than the people or organizations that received whatever you have offered. There’s no shame here, but rather gratitude in both directions! Whether you already donated to charity as part of #GivingTuesday on 12/1, or still contemplating where to give your precious take-home pay or time this season, I know you will feel good afterwards. Take stock of how and to whom you are giving in whatever way you can. This my friend, will contribute to your own wealth building efforts because you are passing along the wealth to others.
3. Reflect on the wealth building mindset you want to have headed into 2021. In my new book, A Wealthy Girl: 7 Steps to Prosperity, Peace, and Personal Power, I encourage readers to have the kind of wealth that goes beyond the dollars and cents. I say that "You can shift your mindset toward gaining wealth by exposing yourself to others who look similar to you and who have had trajectories toward living a life that you define as wealthy, by the terms you see as important." Reflect on what it means for you to be wealthy and how you can start to get this mindset for yourself.
If you haven’t done so already, you can pre-order my e-book now on Amazon, and get ready to journey with me as I will help you build that wealth building mindset. If you send your receipt to info@charissesays.com, I will give you a FREE behind the scenes “Q&A on the book.”
If you’ve already purchased the book, thanks for supporting me and I trust that you won’t be dissatisfied when you get the book on February 10, 2021. Also, don’t forget to share the news with your friends and family, so they can get prepared for their own wealth building journey.
